Apple Partner Luxshare Invests in EV Production as Apple Car Manufacturer Announcement Inches Closer
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The Apple Car continues to grace the news as one of Apple’s partners, Luxshare, has announced a joint venture to design and build electric vehicles. This is the same company that currently handles the AirPods assembly for the fruit company. It is just a coincidence that Apple is slated to announce who will build the Apple Car sometime this year?
Apple’s AirPods key supplier Luxshare has announced it is joining the growing EV market. This report from Nikkei Asia says Luxshare Precision Industry has announced a joint venture with a company called Chery Group to develop and manufacture EVs.
Luxshare, which right now is the assembler of the Apple AirPods lineup, will be in the EV market in just three months.
“Luxshare will take a 30% stake in the new company, with the rest to be owned by Chery Automobile electric-vehicle unit Chery New Energy, under recently announced plans. The venture is to be established within three months with a capitalization of around 1.7 billion yuan (That is $267 Million US Dollars). Its vehicles will not sport the Luxshare brands. Luxshare will not become a carmaker, said its chairwoman, Wang Laichun, on an investor conference call Sunday. It will work with Chery New Energy to develop a service of building good vehicles and aims to become a leading Tier 1 supplier in the world, she said.”
Many of us know Luxshare as Apple’s Key AirPods supplier, but most recently, they have also begun assembling the iPhone 13 lineup. The company is also right now beginning to build a new plant to support the EV partnership.
Apple’s Car Project (or Project Titan) began in 2014 and is expected to be completed in 2024. Kevin Lynch is the head of the project, and the Apple Car may begin manufacturing in late 2022, but most leaks report to 2023 with an announcement in 2024 and shipping beginning in 2025 at a low quantity.
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[The information provided in this article has NOT been confirmed by Apple and may be speculation. Provided details may not be factual. Take all rumors, tech or otherwise, with a grain of salt.]
